FISCAL NOTE

Date Requested: January 16, 2019
Time Requested: 02:07 PM

2271	Introduced	HB2468
Agency:	Agriculture, WV Department of
CBD Number:	Version:	Bill Number:	Resolution Number:
CBD Subject:

FUND(S):

Department of Agriculture Capital Improvements Fund (New)

Sources of Revenue:

Special Fund

Legislation creates:

Creates New Fund: Department of Agriculture Capital Improvements Fund

Fiscal Note Summary

Effect this measure will have on costs and revenues of state government.

This bill establishes a dedicated Special Revenue fund allowing the Department of Agriculture to utilize existing resources for construction and other capital improvements to agency facilities. This does not create new revenue; instead, it grants the Commissioner of Agriculture the ability to direct revenue generated from agency-owned farm operations to meet critical needs. The benefit of utilizing existing resources via this new fund for capital improvements is reduced reliance on one-time special-purpose General Revenue appropriations for agency improvements.

Fiscal Note Detail

Effect of Proposal	Fiscal Year
Effect of Proposal	2019 Increase/Decrease (use"-")	2020 Increase/Decrease (use"-")	Fiscal Year (Upon Full Implementation)
1. Estmated Total Cost	0	0	0
Personal Services	0	0	0
Current Expenses	0	0	0
Repairs and Alterations	0	0	0
Assets	0	0	0
Other	0	0	0
2. Estimated Total Revenues	0	0	0

Explanation of above estimates (including long-range effect):

The net effect to agency revenue is $0, and expenditures will vary depending on available fund balances and projects for which the new fund is utilized. As written, this bill establishes and provides liquidity for this new fund from authorized transfers from the Farm Operating Special Revenue fund (1412) when that fund's fiscal year-end balance is in excess of $1M.

Memorandum

None noted.

Person submitting Fiscal Note: Alan Clemans, on behalf of Sandra Gillispie, CFO
Email Address: sgillispie@wvda.us